Considering selling boat
 

We are thinking of selling our 03 Cobalt 240 with low hours, and wonder where the best place might be to advertise it. It’s a terrific boat, but we have seldom had it out the past several years. We will appreciate constructive responses.
Sue

Sue;

Facebook Marketplace and Craigslist are pretty good. However…have you thought about consignment at a local marina so you don’t have to deal with the headache? Just drop it off, have them deal with the entire transaction, then simply pickup your money…Yes there is a charge for this but many times the price they get because of their incentives may exceed what you can get and break even or even better…Boats are still selling very fast right now and many people are more comfortable buying from a marina…

Good luck which ever way you decide!

Dan

I would not be so sure about boats selling fast. I think with higher interest rates and the increased prices of gas, heating fuel, and food the economy is really slowing down and many people don't have the extra money for things like boats and vacations..

One New Hampshire marina I spoke with sold less than half of the dollar amount this year that they did at the previous Boston Boat Show.

I have a 25 foot pontoon boat in Florida on Craigslist, Boat Trader, and Facebook Marketplace and in a month I have had no serious inquiries. It is a 2022 priced at about 70% of a new one.

A weekly rental I have on Winnipesaukee still has open weeks this summer and by this time of year I usually have waiting list. Bike week is still open.

The car dealer lots that were nearly empty have started filling up with new cars. Because of the high interest rates, which have an effect on sales, manufacturer's are starting to advertise financing deals.

I think the slowdown the Fed has been working towards has arrived.

All true


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If you don't have a trailer or a slip that goes with the boat, I would definitely sell through a marina as they are able to build that package, and sometimes have good access to financing. OTOH, as a 20 year old boat , you may not be talking so much money and financing, if any, might be a HELOC or some other collateral.

Prices are down.
But in overall sales, I am 22 percent compared to last year.

It may just be certain categories that have slowed down.

Boat with a slip
 

Sells like hotcakes. I think people would rather buy a boat with slip just for the slip and sell boat later.

I did just that. In 1995 I bought a slip at Mountain View Yacht Club because I wanted the slip but I had to buy the sailboat that was in it to get the slip. I had no interest in owning or operating a sailboat.

Two weeks later I sold the sailboat to two Irish gentlemen from Rhode Island. I am pretty sure they were Morris Fitzpatrick and Patrick Fitsmorris. I assume that they enjoyed the boat.

Hi Sue, I private messaged you regarding your boat.

So private sales in my mind are the way to go if you are not in a rush. Using facebook market place and Craigslist have worked out well for me. With a boat one of the biggest things you can do to help yourself, is have it available to put in the water, if you have a serious buyer. Well some people say they get a lot of tire kickers, just looking for a ride, I have not had that problem. Also be willing to help them solve logistical problems they might have.... For instance, if you keep your boat at a marina and don't have a trailer, have a list of companies or marina's in the area, that a potential buyer can contact about transport a boat to its new home.

As an avid boater, I have found simple things go a long way.... Selling my last boat, I took the time to give the first time boat owners some coaching... Went over all the controls and procedures the day they came to look at the boat, and even helped the get the boat on and off the trailer for the first time the day they picked it up. In return they never really haggled on the price, and headed home both days I met with them, having enjoyed the boat.....And I can't lie, anytime on the water for me is a good time.

Cobalt 240 with 8.1 liter Mercruiser and 400 H.P.
 

Knowledgeable marina professionals have indicated mid thirties because of its condition and low number of hours. It’s well equipped, has a trailer and Bimini, etc. I have mixed emotions about selling it because it’s provided lots of summer fun and memories, but we haven’t used it much the past several years. Our college age grandchildren have summer jobs and can’t get up to the lake very often. Their first choices would be the jet skis anyhow. We will see what happens.
Sue